Friday, April 02, 2010

I’VE HAD MY FILLmore OF PRESIDENTIAL DOLLARS

It’s time to concentrate on collecting something a little easier – like truly rare coins!

2010_1_Fillmore

When the Presidential dollars first came out in 2007, I was excited. While I’ve heard and read a lot of criticism about the coins, I actually like them and throughout 2007 I dutifully went to my local bank each time a new President was released and bought a couple of rolls. Everything went smoothly that first year.

It was the first coin in 2008 where my problems first began. I went to my local bank right on schedule to get a couple of James Monroe dollar rolls. However, when I got there, the teller explained to me that they no longer were getting the coins in rolls. They only had single coins to sell. I’d have to go to another bank to get the rolls.

For the next few days, I called banks around my area to see if they had Presidential dollar rolls. None of them did, and most said they didn't have the single coins as well.

I finally got a break one day when I was at my local bank. I thought what the heck, I’d give it another try while I was in there for some other business. The teller gave me the usual story that they didn’t have any, but then she gave me the information I was waiting to hear. She thought that a larger branch about 5 miles away had the rolls. I immediately headed over there and, low and behold, they had rolls of James Monroe. I was so happy I bought 4 instead of my usual 2.

For the next 2 years I went to that bank to buy 3 to 4 rolls of each new Presidential dollars, and I’d call ahead to make sure that I could get them. I’d sell the extra rolls at face value to friends and family that were also having trouble locating them. Things were once again going smoothly . . . that is until Zachary Taylor.

Zachary Taylor was my first inkling that things were about to start going wrong once again. As I asked a teller for 3 rolls of Zachary Taylor dollars, an assistant manager overheard my request. She went on to explain to me that the bank had a policy of only one roll per customer. I asked when they started this policy and she told me, “the bank has always had this policy.” For 2 years I had no problems at that bank, suddenly it was a problem.

But the assistant manager was willing to make an exception and sell me 3 rolls. When I got the rolls I was met with another surprise. For the first time, the paper wrapper did not have the President’s name on the roll. One of the 3 rolls only had the reverse showing at each end, so I had no idea if it was a Zachary Taylor roll. The other 2 rolls at least had the President Taylor obverse showing at one of the ends, so I knew there was at least one of the coins in each roll.

Presidential_dollar_rollsA few month later and it was time to go to the bank for Millard Fillmore. This time I went expecting the bank to only sell me 1 roll. But it turns out, I wasn’t really prepared for what was about to happen.

I was told that the bank no longer has Presidential dollars. Not just the rolls, but single dollars as well. I’d have to start going somewhere else to get them. But they did sell me 2 well circulated rolls of 1979, 1980, and 1999 Susan B. Anthony dollars – go figure.

I called around and checked other banks in my area, and they too no longer get the latest Presidential dollars. Apparently nobody is asking for them.

So I no longer have to decide whether or not I'm going to collect Presidential dollars, the banks have already decided for me. I don't blame them, afterall there really is nothing in it for them if their customers aren't asking for them.

As for my current collection of Presidential dollars, they’ll probably all get used in the self-checkout lane at the grocery store.

I guess it's time to concentrate on collecting something a little easier - like truly rare coins.

12 Comments:

At 11:15 AM, Anonymous Anonymous said...

Boo Hoo. All you do is complain...you must be a miserable person to live with. I would hate to be you

 
At 4:27 PM, Blogger A.C. Dwyer said...

I have to be honest, at first I almost didn't allow the comment above to be posted, but then it did make me laugh. Afterall, how can a miserable person like me reject a comment that makes me smile?

 
At 9:23 AM, Anonymous Anonymous said...

I would have deleted it.

 
At 11:20 AM, Anonymous John K. said...

Must be a relative of millard fillmore!

 
At 11:26 AM, Anonymous Susie said...

I gave up a long time ago. My bank stopped carrying them after the first couple of presidents.

 
At 3:33 PM, Blogger Bob said...

Wow, I'm so lucky! My bank still has them available but you're right, how much longer can they keep them around. Every time I try to spend one it's a major ordeal! What is it? Are these real? Oh, not one of those! are the most common remarks I get. Ah well, what would we do without eBay!

 
At 7:29 AM, Anonymous Anonymous said...

The Fillmore was the first dollar that my bank does not have. I don't know why. The previous issues were snatched up pretty quickly.

Cincinnati

 
At 2:05 PM, Anonymous Anonymous said...

I dutifully collected the state quarters. When the presidential dollar coins first came out, I was skeptical--I thought $1 was too much for casual collectors to spend on coins that would likely never significantly appreciate in value--but I gave it a shot. I walked into my bank--a relatively large, Manhattan branch of a major financial institution--and asked for the George Washington dollar. The teller told me that they didn't carry them and didn't intend to. I shrugged and abandoned the quest, realizing that this program was probably destined to fail. It looks like I was right.

 
At 8:05 AM, Anonymous tours india said...

whoa. that's cool! here in our country, i had collected different amounts of peso(just like a dollar) and it may seems funny that the coins or the money had evolved from something to something. get it? i mean it's pretty coll to know the history behind it.

 
At 10:39 AM, Blogger Puddlejumper said...

There are plenty of excuses for doing or not doing something and I have my own. When I started collecting from circulation in 1969 the changes in design were far and few between. Sometimes I get frustrated with availability, but I am loving the variety and have been in collecting heaven for the last eleven years. Part of the appeal in the hobby is closing a set, of which I have a few. But just as big a part is the quest.
As far as Pres $'s go, I have two sources now, my bank and a fellow coin club member who is on drop-ship subscription. In turn I supply my club with quarters with my ATB subscription. Now if I could just find those 09 & 10 nickels & dimes!
A ten-year series is a big commitment and getting the first 3-4 years is an excellent start. I would not give up now, but that's just me. Join a coin club and keep looking.

 
At 11:59 AM, Blogger A.C. Dwyer said...

Puddlejumper - Although I've given up on collecting the rolls, I'm still on the search for the individual Presidential dollars. My 5 year old son has a kid's album that has slots for the dollars, so even if I were to give up myself, he keeps me looking for his collection.

Now if I can only find someplace with the latest Pierce dollars.

 
At 1:20 PM, Anonymous Anonymous said...

I got as far as Chester Arthur and my bank is telling me the same thing. I have half-filled folders for my7 grandchildren and am ready to just tell them to bank the money!

 

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